Business Wire IndiaShemaroo, India’s leading Media & Entertainment player with 60 years of enriching history has created another milestone by entering the Web 3.0 space in partnership with leading blockchain technology company Seracle, thus leading the Web 3.0 initiatives in the media and entertainment industry. The rising demand for enhanced user experience and increasing advancements in connectivity are the key factors driving Web 3.0 market revenue growth and with this new partnership, Shemaroo has taken giant strides to create a strong foundation.
Since its inception, Shemaroo has fostered a culture of innovation and technology that has enabled the brand to stay ahead and cater to the evolving needs of the consumers. Web3 technology is expanding at a breakneck speed and is going to favourably impact the entertainment sector as well. Seracle is a Web 3.0 full stack infrastructure company, building decentralized applications globally. With their enterprise blockchain expertise, Shemaroo will be unleashing the value of intellectual properties to democratize creativity, ownership, and applications in the new frontier using Blockchain technology.
Hiren Gada, CEO – Shemaroo Entertainment, said, “Web 3.0 provides limitless opportunities, especially for the entertainment industry. Shemaroo’s expansion into this space is a strategic decision and to be the innovator which will lead the transformation in the ever-evolving M&E industry. We are happy to partner with Seracle for our Web 3.0 expansions and keep the brand future-ready to capture this emerging space by creating a fresh alternative for our tech-savvy consumers.”
Rahul Mishra, Head – Web 3.0 Initiatives, Shemaroo Entertainment, commented, “With this partnership, we look at cementing our position as the chosen entertainment platform at the national and global level and extend the value-added experience for consumers in the Web3.0, NFT, and Metaverse. With evolved virtual-reality experience, we aim to connect the traditional fandom with the Web3.0 ecosystem and uncap the huge growth potential for the brand.”
Shrikant Bhalerao, CEO, Seracle, Web 3.0 Infrastructure, commented, “We are proud to partner with Shemaroo in realising their vision and business goals in the Web3.0 space. Web3.0, NFT, and Metaverse will open avenues for the entertainment sector – keeping up with the digital burst, elevating the individual experience in personalised entertainment content space. We are happy to be instrumental in levelling up the industry standards through this partnership.”
As per recently published data, the global Web 3.0 market size will reach USD 81.5 Billion in 2030 with a compound annual growth rate of 43.7%. Another research data predicts the NFT transaction will rise from 24 million in 2022 to 40 million by 2027, globally. Web 3.0 and Blockchain market is projected to add USD 1.1 Trillion to India's GDP by 2032 and most certainly Media & entertainment industry will be a key player in driving this growth.
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